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Kevin Hern: “Currently, these financiers are claiming capital gains…”

Featuring: Kevin Hern, Republican | U.S. House Oklahoma, 1st Congressional District

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Rep. Hern Questions IRS CEO on Tax Filing Accountability and Efficiency in Ways & Means Hearing

Published | Video Starts at 01:25

Thank you. And I have significant concerns about third party financing of litigation in the United States, particularly regarding the tax treatment of the profits derived from it. Currently, these financiers are claiming capital gains treatment, and I think it's highly questionable at best that the unadjudicated assertions of harm constitute capital assets. Would you be willing your team to look into how the IRS can work with us on this and on the tax treatment of this practice? (01:25–01:37)

CLAIM

Asserts that financiers are claiming capital gains treatment for unadjudicated assertions of harm, which is questionable.

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PolitiQuote is a civic library index to statements made by politicians in publicly available video records. The index is created automatically from transcripts, with no editorial oversight or analysis. Highlighted quotes are selected by AI. Words may be added in parentheses to offer context for the quote. There may be errors in the transcription and display, so listen to the video to ensure accuracy.

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